This bipartisan measure provides $484 billion to deliver urgent pandemic relief by providing additional funding for small business loans, health care providers, and COVID-19 testing.
DIVISION A--SMALL BUSINESS PROGRAMS:
The bill appropriates an additional $321 billion for the depleted small business lending program, $60 billion of which is set aside for loans made by credit unions and other community-based financial institutions to reach underbanked businesses.
DIVISION B--ADDITIONAL EMERGENCY APPROPRIATIONS FOR CORONAVIRUS RESPONSE:
The bill also provides an extra $60 billion for disaster and other emergency loans.
TITLE I--DEPARTMENT OF HEALTH AND HUMAN SERVICES:
This title provides $100 billion in FY2020 supplemental appropriations to HHS for the Public Health and Social Services Emergency Fund, including $75 billion to reimburse health care providers for health care related expenses or lost revenues that are attributable to the coronavirus outbreak; and $25 billion for expenses to research, develop, validate, manufacture, purchase, administer, and expand capacity for COVID-19 tests to effectively monitor and suppress COVID-19.
TITLE II--INDEPENDENT AGENCIES:
This title provides FY2020 supplemental appropriations to the SBA, including $2.1 billion for salaries and expenses to administer programs related to COVID-19, $50 billion for the Economic Injury Disaster Loan (EIDL) program, and $10 billion for Emergency EIDL grants.
